Visualization – Transforming Core Banking Process Design

Starting with the end in mind. Easier said than done when considering a Core Banking Transformation (or any transformation for that matter). Sure there are high level goals set and generic statements made related to the desired outcome but normally there is no clear vision of what the transformed processes and systems will look or feel like from either a business or end user perspective.

The historical methods of business process, system design and development are, when considering the scope of a Core Banking Transformation, time consuming and costly. Rounds of requirements reviews, business rules definitions, and business process design result in high burn rates for consultants, internal SME’s, and business analysts and a vast amount of textual data that may not encompass all necessary requirements and is left wide open to interpretation. The results of these various rounds are often only found lacking when the first iterations of delivered product reach the hands of end users (internal or external). At this point change is very costly and defects impact testing schedules and go live dates.

So where does that leave us? We become prisoners of our own historical methods that when applied to programs as complex as Core Banking Transformations amplify their inefficiencies resulting in significantly late delivery and associated costs that can move into hundreds of million dollars.

What do we do? We turn the historical methods on their head. New tools and collaboration technologies, as well as near universal familiarity with common web technologies can allow almost anyone (even business users) to drag and drop their way to successful system and process design. By visualizing the process, and in the best case creating interactive simulations as the first step in Core Banking Transformations, the development misunderstandings, and business user acceptance are satisfied early. This in turn reduces defects and speeds the entire delivery.

Question the historical methodology and practices of process and system design. Introduce visualization into your program. Incorporate a collaborative enterprise visualization tool into the transformation’s toolset. Train your team to use these tools and start at the lowest levels and you will be well on your way to a successful transformation.